Visteon (NASDAQ:VC) Hits New 12-Month Low – Here’s Why

Shares of Visteon Corporation (NASDAQ:VC) reached a new 52-week low on Wednesday. The company traded as low as $71.51 and last traded at $70.3330, with a volume of 4,344 shares. The stock had previously closed at $73.76.

Wall Street Analyst Weigh In

Several research firms recently commented on VC. Wall Street Zen downgraded Visteon from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. UBS Group cut their price target on Visteon from $107.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday. Barclays lowered their target price on shares of Visteon from $145.00 to $125.00 and set an “overweight” rating for the company in a research note on Friday, October 9th. The Goldman Sachs Group set a $103.00 price target on shares of Visteon in a research report on Thursday, October 22nd. Finally, Royal Bank Of Canada dropped their price target on shares of Visteon from $127.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, October 23rd. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.64.

Visteon Trading Down 3.6%

The firm has a market capitalization of $1.76 billion, a P/E ratio of 12.15 and a beta of 1.30. The company has a 50-day moving average of $93.33 and a 200-day moving average of $100.26.

Visteon (NASDAQ:VC) last announced its earnings results on Thursday, October 22nd. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($2.09). The business had revenue of $970.00 million for the quarter, compared to the consensus estimate of $936.38 million. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $2.15 EPS. Research analysts predict that Visteon Corporation will post 7.71 EPS for the current year.

Visteon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a dividend of $0.3750 per share. This represents a $1.50 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 1st. Visteon’s dividend payout ratio is currently 25.86%.

Institutional Investors Weigh In On Visteon

Hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new stake in shares of Visteon in the second quarter worth about $2,358,000. Integrated Wealth Concepts LLC purchased a new position in shares of Visteon during the second quarter worth approximately $3,057,000. Dimensional Fund Advisors LP boosted its holdings in Visteon by 14.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,403,695 shares of the company’s stock worth $127,879,000 after buying an additional 175,679 shares in the last quarter. Engineers Gate Manager LP increased its position in Visteon by 60.9% during the 2nd quarter. Engineers Gate Manager LP now owns 88,766 shares of the company’s stock worth $8,806,000 after purchasing an additional 33,612 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of Visteon by 25.5% during the 1st quarter. Empowered Funds LLC now owns 172,936 shares of the company’s stock worth $15,756,000 after purchasing an additional 35,111 shares during the period. Hedge funds and other institutional investors own 99.71% of the company’s stock.

About Visteon

Visteon Corporation (NASDAQ: VC) is a global automotive technology company that develops and supplies electronic systems for vehicle manufacturers. Its products are designed to support the digital, connected and increasingly electrified vehicle, with a focus on improving the driving experience, vehicle functionality and energy efficiency.

The company’s product portfolio includes digital instrument clusters, displays, infotainment systems, connected-car technologies, cockpit domain controllers, climate-control electronics and other vehicle control systems.